There is so much going on in business that it’s easy to forget about the need for management liability insurance protection. But you shouldn’t forget about it.
Management Liability Costs Your Small Business
- Over the past decade, more than one fourth of small businesses have related that they were targeted in a Directors and Officers Liability insurance claim
- Findings demonstrate that small business owners file more Employment Practices Liability insurance claims than General Liability or Property Loss claims.
- A typical employee benefits insurance claim settlement is reached at close to $1 million
- With an average cost of $160,000 for each loss, the effects of fraud are felt more by small business enterprises than any other type of commercial company
More on Management Liability Insurance
- Insurance includes Directors & Officers Liability and/or Employment Practices Liability with global coverage territory
- Small businesses that have 100 or less employees, plus $10 million or lower in revenues or assets are eligible for this insurance
- Extra employee theft coverage is available
For more on the management liability insurance coverage for small business, contact an experienced independent insurance agency.
PRIME Insurance is a 3-generation family-run independent agency. We’ve been appointed by the leading companies to deal directly with them, making us partners with the big industry names like ACE, ASI, ASSURANT, CHUBB, CNA, FOREMOST, Liberty Mutual, MetLife, PROGRESSIVE, Safeco, StillWater, Travelers, USLI, ZURICH and others. With thousands of satisfied customers, we benefit our clients by reviewing current coverage, and by shopping our extensive network to locate customized policies at competitively lowest quotes.
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Summary: Management Liability Insurance for the small business includes essential Directors & Officers Liability Coverage as well as much needed Employment Practices Liability Coverage.